Oil and gas operations are highly complex and costly and have a deep impact on the world’s economy. Because of this complexity, companies within this industry need enterprise management software that can easily integrate into business processes and across different departments and modules. Those areas could include procurement, inventory control, research, production, finance, distribution, and delivery. To continually improve these unique departments of an energy company and increase overall operational effectiveness, the industry is stressing the importance for energy ERP software solutions that can support and manage operations more now than ever.
Enterprise Resource Planning (ERP) Software for the Energy Industry
ERP systems play a critical role in standardizing business processes for oil & gas organizations. This is especially required as the oil & gas industry has enormous units scattered geographically with varied supply chain demands and expanded competition. Modern ERP systems, like Microsoft Dynamics 365 for Finance & Operations, can be tailored to the energy industry to provide all the essential techniques to customize these functions so it best fits into businesses and processes. However, the intent of business standardization is not just about cost savings, but it is also about the benefit of flexibility being added to the business by allowing quick movement and adjustments of workload in offices.
The Energy Industry’s Need for an ERP Solution
It’s pretty well known that the oil & gas industry is an expensive enterprise. And oil & gas ERP solutions are an important part of the industry to develop and improve the production and management of oil and gas.
Here are some of the key advantages of adopting ERP software into the oil and gas segment:
One of the complexities of the oil and gas industry is managing the accounting and communication between multiple landowners. By integrating EnergyCONNECT Joint Venture Accounting into your system, you can unify project management, budgets, and costs with your corporate financials from initial drilling through to production. You can more effectively invoice and pay your partners, manage your cost centers, control expenditures, and drive efficiency into your business processes.
By implementing a modern energy ERP solution technology tailored to the oil and gas industry, like EnergyCONNECT, energy companies can experience powerful benefits including growth of customer relationships, flexible business reactions, and real-time data.
If your organization is ready to gain a competitive edge, contact us so our team can evaluate your business and begin the steps to implementing a new way to manage your oil & gas operations.
Author: Curtis Payne, Solution Consultant
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